Integrated Sales Platform for Insurance Brokers

Technology Overview

We offer product core and sales platform for insurance companies, insurance brokers, independent agents and banks, willing to sell their own products or products provided by their partners. Our platform covers all major stages of sales process, including but not limited to: product selection, entering customer’s data, quotation, policy issuing, preparation of supporting documents, printing or emailing them, payments and settlements between all parties involved. Any product within the system could be accessed via the sales rep’s web interface or placed on the internet for consumers self-purchases.

Our solution is intended to improve time to customer for new financial products (insurance, loans, loyalty cards, certificates, etc.) and simplification of sales process in any channel.

Technology Features & Specifications

Front end: Single page web application based on Smart Google Web Toolkit (GWT) stack, currently in transition to Angular 2. CSS themes-enabled, can be adopted to any brand book. Any product can be used within sales rep’s web interface or as stand-alone web application.

Back end: Micro-service architecture, Java development stack and any SQL database.

Product core: Excel Spreadsheet Programming API Aspose.Cells for product setup on Excel-based descriptor, bindings to major programming languages (Java, C#, JavaScript, Python).

Product setup: well-developed continuous integration and continuous delivery (CI/CD) based methodology on step-by-step insurance product description, breakdown to elementary parts, setup, testing, UI preparation and publishing.

Potential Applications

For an insurance company, the system's application is to setup its products and provide third parties (agent or broker) access to sell them. In this case our system is used as primary product core for the company, where it sets up all products and provides third party with API or web interface to sell them to customers. The system can provide all data necessary for reporting, settlements, etc.

For an agent or broker who works with one or few insurance companies, the system can be used as a primary sales tool. The agent can setup all products from providers in our system to perform multiple quotations, comparison and cross-sales. The system has basic customer relationship management (CRM) functions or can be integrated with existing CRM and call-center systems.

Market Trends and Opportunities

The general market shift observed by industry consultants in various surveys and reports for the last 5 years is digitalization, supported with growing amount of direct sales and a need for customer-tailored offerings. This trend creates a demand for quick introduction of new products to answer changes in customer needs at any time. There is also an increasing need for online tools to close deals with customers instantly online in any sales channel. For example, according to the EY survey “The broker of the future”, one of the most important and customer-satisfying areas for insurance-related organizations is “Digital policyholder and policy management tools”.

Customer Benefits

Our unique approach to product setup enables users without special skills (only MS Excel skills are necessary) to setup new or update existing products. We offer a complete methodology to describe, setup and upload error-free insurance product covered with automatic tests into the system. As a result, businesses will be ready to quickly adapt to market changes and customer needs.

The system was developed to have the ability to integrate to existing IT landscape of any organization and therefore is highly modular. It means any company can use only necessary components or modules to upgrade existing processes step by step.

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